Mentioned:
Africa might be on the verge of getting something new: electric air taxis.
What’s happening:
- Archer Aviation (NYSE: ACHR) has entered into a new $30M USD deal with Ethiopian Airlines to supply their Midnight electric air taxis
Why it matters:
- This is the first major deal Archer Aviation has done to launch their electric air taxis into Africa
Going deeper:
- Archer Aviation and Ethiopian Airlines will also closely collaborate on ways to build off of this initial partnership to develop a larger network of electric air taxis in Africa that could be used for recreation and tourism
- Archer Aviation also just recently made waves after forming a new partnership with Palantir (NASDAQ: PLTR) focused on leveraging artificial intelligence technology to accelerate the production and manufacturing of electric air taxis in the United States of America
The fine print:
- Being able to have Archer Aviation’s Midnight electric air taxis operational in Africa will still ultimately still require regulatory approval from the Ethiopian Civil Aviation Authority
